ExxonMobil and the Iraqi central government have been at odds with each other since November, after the U.S. oil company signed contracts for several exploration rights in the semi-autonomous region of the country.
In what is one of the oil and gas industry's largest financing project, ExxonMobil and Qatar Petroleum officials announced they have amassed $10.4 billion for a gas project in that country.
Stocks tumbled on Monday, as concerns about Europe returned to the forefront after major credit ratings agencies warned that European leaders had not done enough to tackle the region's debt crisis.
Venezuelan President Hugo Chavez said his government is willing to sit down with Exxon Mobil Corp. officials after years of tension following the nationalization of the country's oil industry.
Just hours after Secretary of State Hillary Clinton left Myanmar last week, property prices began to soar.
The move has put ExxonMobil in the cross hairs of the Iraqi central government who maintains the exploration contracts the company signed with Kurdish officials last month are illegal.
With 2.5 million acres in natural gas-land leases, the company has become a huge player in domestic natural gas production, bested only by ExxonMobil. However, its land acquisitions are concerning investors who fear the company's land spending could place it in a $4 to $9 billion budget hole.
Iraqi government officials on Sunday said they will send U.S. oil company ExxonMobil another letter seeking the company's explanation regarding its exploration agreement with Kurdistan.
The public relations campaign at end of year 2010 is proving to be a hard one for U.S. oil giant Chevron Corporation. Faced with an oil leak, the suspension of its drilling rights and severe public backlash all in Brazil, the company has now been labeled the most toxic energy company.
Company refuses to comment on agreement that could cost company its share of Iraq's giant southern oil field.
Stock index futures pointed to a higher open on Wall Street Friday, with futures for the S&P 500 up 0.6 percent, Dow Jones futures up 0.4 percent and Nasdaq 100 futures up 0.7 percent at 0924 GMT (4:24 a.m. ET).
Shares of Apple, the No. 1 vendor of tablets, fell as much as 3.3 percent Thursday amid concerns shortages or floods in Thailand may depress iPad2 shipments.
Cannes is the incongruously glamorous backdrop for a meeting designed to desperately find a solution to Europe’s greatest crisis in more than 70 years.
Cannes, the beach resort in the south of France, is the ideal locale for the G-20 economic summit.
Stock index futures pointed to a weaker open for equities on Friday after strong gains in the previous session, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 down 0.4 to 0.5 percent.
Stocks surged 3 percent on Thursday as an agreement by European leaders to help contain the region's two-year debt crisis lifted a cloud hovering over markets.
Stocks surged 3 percent in a broad rally on Thursday as a long-awaited agreement by European leaders to boost the region's bailout fund promised to remove a major headwind for the market.
Stocks surged 2 percent on Thursday after European leaders reached a long-awaited agreement to boost the region's bailout fund and struck a deal with banks and insurers to accept 50 percent losses on Greek bonds.
Stocks rallied in early trading on Thursday after European leaders agreed to boost the region's bailout fund and struck a deal with banks and insurers to accept 50 percent losses on Greek bonds.
Major European energy groups posted big jumps in profits on Thursday, driven by higher oil and gas prices and new capacity coming onstream.
Exxon Mobil Corp's profit rose 41 percent in the third quarter, slightly ahead of Wall Street estimates, as gains in crude oil prices and higher refining margins boosted results.
Stock index futures rose sharply on Thursday after European leaders agreed to boost the region's bailout fund and struck a deal with private banks and insurers to accept 50 percent losses on Greek bonds.